Case Page

 

Case Status:    ONGOING    
On or around 11/03/2017 (Ongoing date of last review)

Filing Date: March 16, 2017

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) as a result, defendants’ statements about Walter’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 14, 2017, Walter disclosed that there was a material weakness in internal controls over financial reporting related to operational processes associated with Ditech Financial default servicing activities for the year ended December 31, 2016. On this news, shares of Walter fell $1.05 per share or over 38% to close at $1.65 per share on March 14, 2017, damaging investors.

On May 3, 2017, this case was transferred to the Eastern District of Pennsylvania.

An amended complaint was filed on September 19.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WAC
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Pennsylvania
DOCKET #: 17-CV-20997
JUDGE: Hon. Ursula Ungaro
DATE FILED: 03/16/2017
CLASS PERIOD START: 05/03/2016
CLASS PERIOD END: 03/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 17-CV-02025
JUDGE: Hon. Ursula Ungaro
DATE FILED: 09/19/2017
CLASS PERIOD START: 08/09/2016
CLASS PERIOD END: 08/01/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP (New York)
    122 East 42nd Street, Suite 2920 , Glancy Prongay & Murray LLP (New York), NY 10168
    (212) 682-5340 (212) 884-0988 ·
No Document Title Filing Date